The CMA is consulting on its provisional decision that the provisions of the SME Banking Undertakings 2002 – the limitation on bundling provisions which require 8 banks not to make customers open BCAs as a condition for accessing loans or deposit accounts – are no longer appropriate and should be released.
The CMA feels that changes in the competitive landscape, customer behaviour and the introduction of the Consumer Duty combine to mean that the restrictions are no longer needed.
Consultation closes on 3 September.